TUCKAHOE, N.Y. -- CryptoMetrics, a leading global provider of facial recognition and fingerprint biometric solutions to the government and commercial markets, today announced that it has raised $17.5 million in funding through a recent Private Placement offering. J.P. Turner functioned as the primary lead for the round of funding that was comprised of all new investors in the company.
The funding will be used to hire key personnel, expand operations, develop new technologies and exploit market penetration opportunities.
Robert Barra, co-CEO of CryptoMetrics, stated, "We are very pleased with the level of investor interest we received in our recent round of financing. This funding will help CryptoMetrics make the investments necessary to turn our unique and leading technology advantage into a clear leadership position in the biometrics market. As the world increasingly looks to enhance security through improved personal identification capabilities, CryptoMetrics is well positioned to deploy its technology solutions for use in protecting both information and physical locations."
CryptoMetrics and its wholly-owned subsidiary, BioDentity, Inc., develop hardware and software products that provide leading edge security and access control solutions with facial recognition and logical fingerprint technology. The company specializes in the development of end-to-end solutions for travel document issuance, border security, aviation security, critical key infrastructure protection and law enforcement. Fundamentally, CryptoMetrics delivers total security through the highest level of positive personal identification.
Because global interoperability of systems is central to the success of biometric solutions, CryptoMetrics has adopted a vendor-agnostic approach that allows its software and hardware to seamlessly integrate with all other biometric solution providers. As a result, CryptoMetrics is a recognized as a vendor-of-choice for government and private entities as well as major systems integrators.